(INDIANAPOLIS, IN) - Indiana Pacers President of Basketball Operations Larry Bird and General Manager David Morway will remain with the team.

The announcement comes following a meeting in Los Angeles between Bird and team owner Herb Simon.

The contracts of Bird, Morway and the scouting and coaching staffs are set to expire this summer.

There was no word from the team as to how long Bird will remain, but the Indianapolis Star reports that Bird will work year-to-year with Simon saying he is welcome to stay as president for as long as he wants.

The first job for Bird and Morway will be hiring a head coach. Interim head coach Frank Vogel is the early front runner to get the job on a full time basis.